Trading Plan for Dec-11-2019

CHWY – Chewy, Inc.

Big Picture SPY:

Captura_de_pantalla_121119_060849_AM.jpg

Downtrend on the daily chart, very good volume coming down but prices held. S1 is nearby at 312.77

Captura_de_pantalla_121119_061432_AM.jpg

Downtrend on the 30-MIN chart. Sellers are in control. See if can hold S1 312.17

If doesn´t be aware of S2 at 312.00

OBS:

Still cannot break long resistance/all-time highs at 315.63

Long support still at 302.01

Technicals CHWY:

Captura_de_pantalla_121119_062555_AM.jpg

ATR: 1.36

GAP:  5.10

R.VOL: 3.92

Avg. VOL:  2.32 M

Short FLOAT: 31.80%

Institutional Ownership: 747.13 %

Closest Support: 23.80

S2: 22.80

Captura_de_pantalla_121119_073852_AM.jpg

On the 30 Min chart, uptrend, buyers are in control. Good volume on the last day – 10-12-2019 at opening drive.

Be aware of long resistance at 26.35

Captura_de_pantalla_121119_074722_AM.jpg

Closest support at 24.95

Clear skies till 26.30 – resistance.

Unless a big change in the market, it’s a buy if holds 25.00 or above. Probably price will come down for VWAP and if bounces a buy.

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